This article is about the currency. For other uses, see Euro (disambiguation). "EUR" redirects here. For other uses, see EUR (disambiguation). euro евро (Bulgarian) ευρώ (Greek)
Banknotes Coins ISO 4217 Code EUR (num. 978) Official user(s) Eurozone (16)[show] 3 states with issuing rights[show] 5 territories outside the EU[show] Unofficial user(s) 4 other users[show] Inflation 1,5%, March 2010 Method HICP Pegged by 11 currencies[show] Symbol ¤ Nickname The single currency local names[show] Plural See Euro linguistic issues Coins Freq. used 1c, 2c, 5c, 10c, 20c, 50c, ¤1, ¤2 unless otherwise stated as rarely used Rarely used 1c and 2c (applies to Finland and Netherlands) Banknotes Freq. used ¤5, ¤10, ¤20, ¤50 Rarely used ¤100, ¤200, ¤500 Central bank European Central Bank Website www.ecb.europa.eu Printer Several, click to [show] Website Several, click to [show] Mint Several, click to [show] Website Several, click to [show] The euro (sign: ¤; code: EUR) is the official currency of the Eurozone: 16 of the 27 Member States of the European Union (EU) and is the currency used by the EU institutions. The eurozone consists of Austria, Belgium, Cyprus, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain. Estonia is due to join the eurozone on 1 January 2011. The currency is also used in a further five European countries, with and without formal agreements, and is consequently used daily by some 327 million Europeans. Over 175 million people worldwide use currencies which are pegged to the euro, including more than 150 million people in Africa. The euro is the second largest reserve currency (a status it inherited from the German mark) as well as the second most traded currency in the world after the U.S. dollar. As of June 2010, with more than ¤800 billion in circulation, the euro is the currency with the highest combined value of banknotes and coins in circulation in the world, having surpassed the U.S. dollar.[note 15] Based on IMF estimates of 2008 GDP and purchasing power parity among the various currencies, the eurozone is the second largest economy in the world. The name euro was officially adopted on 16 December 1995. The euro was introduced to world financial markets as an accounting currency on 1 January 1999, replacing the former European Currency Unit (ECU) at a ratio of 1:1. Euro coins and banknotes entered circulation on 1 January 2002.